China: Cryptocurrency STOs Are Illegal Forms of Fundraising, Violators Will Be “Kicked Out”97.08

China’s central and largest bank by market capitalization has officially banned all security token offering (STO) investments and businesses in the country, in the latest blow to the cryptocurrency sector.

As reported by the South China Morning Post on Dec. 10, 2018, the enterprising and upcoming STO market will gain traction in the Chinese investor space after laws forbidding the practice were put into immediate effect.